Opportunities for aluminum in the global automotive industry to reach $42.4 billion by 2022

According to a new market report published by Lucintel, the future of aluminum in the global automotive industry looks good with opportunities in the segments of passenger cars and commercial vehicles. Aluminum in the global automotive industry is expected to reach an estimated $42.4 billion by 2022 and it is forecast to grow at a CAGR of 7.4% from 2017 to 2022. The major drivers of growth for this market are increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices.

In this market, cast aluminum, rolled aluminum, extruded aluminum are some of the major segments by product form. On the basis of our comprehensive research, Lucintel forecasts that the extruded aluminum and rolled aluminum segments are expected to show above average growth during the forecast period.

Within the global automotive aluminum industry, the cast aluminum segment is expected to remain the largest market. Casting is a simple, inexpensive, and versatile way of forming aluminum into a wide array of products, which is expected to spur growth for this segment over the forecast period.

Asia Pacific is expected to remain the largest region due to high vehicle production, improving economic conditions, and increasing investments by the industry players within the APAC region.

Asia Pacific and Europe are expected to experience significant growth over the forecast period because of rapidly increasing demand for aluminum in SUVs & crossovers, small cars, and compact cars.

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of aluminum in chassis and structural applications. Alcoa Inc., Novelis Inc., Norsk Hydro ASA (ADR), Constellium N.V., and Aleris International are the major aluminum suppliers in the global automotive industry.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for aluminum in the global automotive industry by vehicle types, product forms, application types, and regions, and compiled a comprehensive research report entitled “Growth Opportunities for Aluminum in the Global Automotive Industry 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for aluminum in the global automotive industry by vehicle type, product form, application type, and region, as follows:

Q.1 What are some of the most promising, high-growth opportunities for aluminum in the automotive industry by vehicle type (Small Cars, Compact Cars, Mid-Size Cars, Large Cars, SUVs and Crossovers, MPVs, and Pickups), product form (Cast Aluminum, Rolled Aluminum, Extruded Aluminum), application type (Engine, Transmission and Driveline, Heat Transfer, Wheels and Brakes, Structural Component), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2Which segments will grow at a faster pace and why?

Q.3 Which region will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?

Q.5 What are the business risks and competitive threats in this market?

Q.6 What are the emerging trends in this market and reasons behind them?

Q.7 What are some of the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material / product substitution?

Q.11 What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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